BACS Bids to Strengthen Position in UK Payments Industry

BACS, the UK’s automated clearing house, has announced completion of a wide-ranging business review intended to strengthen its position as a driving force behind the growth and transformation of the UK payments industry. As a consequence of the review, BACS aims to bolster the operational efficiency of its core payments business whilst creating a platform for service innovation and future growth. To create a more responsive customer driven company, a number of significant changes have been made to the organisation. Notably, BACS has recruited David Sear as scheme director. This role, reporting to the BACS chief executive, heads up a new division of BACS which is responsible for the standards and processes governing 3.7 billion direct debit and direct credit transactions per annum. In addition, BACS has created a new Corporate Programmes function that will be led by BACS director, Derek Barnby. Barnby will be responsible for overseeing the efficient and timely completion of all corporate programmes and initiatives.


Related reading